Europol Arrests Five in €460 Million Crypto Fraud Scheme
Europol has announced the arrest of five individuals involved in a massive cryptocurrency investment fraud scheme that defrauded over 5,000 victims across multiple countries. The criminal network allegedly orchestrated a sophisticated operation using global associates to funnel illicit funds through cash withdrawals, bank transfers, and crypto-transfers, amounting to approximately €460 million.
The investigation revealed that the perpetrators employed a complex network of associates worldwide to execute their fraudulent activities. These included manipulating victims into making cash withdrawals, bank transfers, and cryptocurrency transactions, effectively obscuring the money trail. Europol’s statement emphasized the use of a…
